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Hong Kong Faces Worst Quarter For Stock Listings Since Pandemic: FT

China's regulatory crackdown has led to a big drop in listings by tech companies on the Hong Kong Stock Exchange. Photo: Reuters.

 

Hong Kong’s stock market is on track for its worst quarter for new listings since the start of the Covid-19 pandemic, as the regulatory crackdown on Chinese technology groups cuts the flow of lucrative share sales vital to the city’s exchange.

Bankers had expected Hong Kong to profit from Beijing’s aversion to US listings but local tech groups raised just $671 million from listings over the past three months, while new listings raised $6.5 billion – a 60% year-on-year drop, according to Dealogic data, and the worst performance since the first quarter of 2020. Most banks and brokers don’t expect a rebound till 2022 at the earliest, the report said. Full story: The Financial Times.

Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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